The awarding ceremony, the first of its kind initiated by the Hanoi Business Association, is expected to be held in July. The award aims to encourage businesses to develop their competitive trademarks and products, thus gaining prestige for Vietnamese products and services, as well as to appeal to local consumers to use domestically-made products. The Sao Vang Thu Do award winners will be recommended for the Sao Vang Dat Viet (Golden Star of Vietnam) award, which will be announced on the occasion of the National Day (September 2). A survey said that over 90 percent of Sao Vang Dat Viet award winners have found the award an impetus to develop business activities and relations and renew technology, thus increasing their revenues and expanding markets. Set up in 1993, the Hanoi Business Association has so far admitted more than 550 members, many of them having built up a firm foothold on the market such as the Phu Thai Retail Group, the Financing and Promoting Technology (FPT) Software Company, and the Hoa Phat Steel Company.
